PALO ALTO, CA – 05 Aug, 2016 – Huuuge Inc., a global social casino games developer, announced the completion of a $4.6 million Series B round led by Asia Pacific-based investors Woori Technology Investment, along with Seoul Investment Partners and Kiwoom Investment. The Series B financing will further enable the company’s global growth within the $3.4 billion social casino market.
Huuuge’s vision is to change how gamers play mobile social casino games by offering superior real-time social experiences on a global scale.
Anton Gauffin, CEO of Huuuge, said: “Players love playing games with other people. Everyone in the industry knows that. Yet, the fact is that most of the social casino games in today’s market offer very limited possibilities to interact and play with other players. This is a multibillion dollar opportunity for Huuuge. Our real-time multiplayer approach is a game changer and we are on a mission to offer a radically better, truly social and global casino gaming experience. Today’s funding will help us deliver this vision in new market regions.”
Over the past 12 months, the company has significantly grown its daily revenues by 12X and increased its employee count to over 100 people worldwide. At its core, the company is profitable, with a proven model for achieving growth at scale as all paid user acquisition is run on a return on advertising spend (ROAS) basis. Earlier this year, Huuuge fully closed its Series A round, led by Korea Investment Partners (KIP), and now the Series B funding will be leveraged to increase the scale of operations and further accelerate global growth.
Jae Woong Choi at Woori Technology Investment, said: “Huuuge is poised for tremendous growth opportunities in the social casino gaming market due to an innovative real-time gaming approach, and we’re excited about what the company will bring to players globally. Creating World’s largest digital casino is a bold mission which we are thrilled to be part of.”
Huuuge’s investors have a proven history of taking their investments public on the Korea Stock market (KOSDAQ), including the social casino company Double U Games that completed its IPO late 2015.
Gauffin added: “We believe that the next Las Vegas will not be in a specific location, it will be on mobile globally available. Our approach of building truly social games for global audiences makes us better suited than anyone else to achieve that ambitious vision. With the closing of our Series B we’re able to achieve this.”
For more information, please visit www.huuugegames.com
About Huuuge Inc.
Founded in 2014, Huuuge Inc. is a real-time mobile games developer, focused on the fast-growing multi-billion-dollar social casino gaming market worldwide. Its flagship app ‘Huuuge Casino’ offers the best social gaming experience where players are able to interact, engage, play and, most importantly, have fun with other players in real-time in an attractive free-to-play casino environment. Huuuge publishes on all major mobile gaming stores, including iOS App Store, Android Google Play and Amazon App Store. Led by industry veterans with a deep passion for gaming, Huuuge is headquartered in Palo Alto with studios in Poland, and backed by leading venture capital firms, including Woori Technology Investment, Seoul Investment Partners, Kiwoom Investment and Korea Investment Partners (KIP).
Anton Gauffin, CEO of Huuuge Inc. | firstname.lastname@example.org
Kate Pietrelli for Huuuge Inc. | email@example.com
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Company Name: Huuuge Inc.
Contact Person: Kate Pietrelli
Country: United States